433 Millbrook Road West Southampton Hampshire SO15 0HX
Price: Sale Price: £320,000
Size: 845 sq ft78 sqm Primary Category: Investment All Categories:
Investment, Property Ref/Movehut: MH409110 Property Ref/Agent: 43798
*Please use the agent ref when calling the agent directly.
The building is located in a prominent terrace of similar aged properties forming a neighbourhood shopping centre accommodating convenience stores, cafes, sporting clothes retailers, mobile phone, and cycle sales, all fronting the busy Millbrook Road West (A.33), being a major arterial route into the City Centre from the West and the M.271/M.27 motorways.
The mainline railway station (Southampton Central) is an easy five minutes driving distance.
This three-storey building is arranged as ground floor retail with access to the first and second floors via a separate ground floor glazed entrance door.
The ground floor is arranged to accommodate half (or thereabouts) of two adjoining retail units both occupied by the well-known and long established business trading as Ladbrokes.
Their accommodation is arranged essentially in open plan providing several viewing areas, together with a screened-off and secure payment/betting area, behind which is a private office, and various ancillary rooms, a kitchenette and toilet, in addition to a rear exit that benefits from an internal secure shutter.
There is a rear yard area and access to the shop unit and separate entrance to the flats.
The two flats which each provide two bedrooms, reception, kitchen, and bathroom are in a reasonable condition and superficially sound.
Ground floor: 845 square feet,
Total: 845 square feet / 78.50 square metres.
Areas measured on site in accordance with RICS Code of Practice on a gross
Offers in the region of 320,000, subject to contract.
Income of: 24,100 pa. ex.
According to the Valuation Office (voa.gov.uk) the rateable value for the retail/ground floor element is 9,000, and the current (2014/15) rates payable figure is 4,239.00 (the rate in pound is 0.471 for RV figures less than 18,000).
A new lease was granted to Ladbrokes Plc on the ground floor retail unit, in May 2006 for a term of 15 years on a full repairing and insuring basis, subject to a tenants break clause option at the end of the tenth year (May 2016) operable on providing the landlords with no less than six months prior written notice.
The two flats are both on ASTs paying a total income of 15,000 pa (1,250 pcm).
Each party to bear their own charges.
None allocated. Free local.
EPC for 433 Millbrook Road West Southampton Hampshire SO15 0HX
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